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by ryan_lane 753 days ago
Which requires KYC in most places, and then you're going to start getting asked about the source of those funds. You'll also need to claim it on taxes, which if lied about will cause additional issues.

So, yeah, the "no questions asked" part is wrong. You can send money to anyone on earth, after a middleman takes a cut on your fiat exchange, the transfer, and the next fiat exchange, with questions asked, public for the world to see.
2 comments
ozgrakkurt 752 days ago
Why is this a problem if you are not doing anything illegal? It is much easier to send and receive money using blockchains
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ryan_lane 752 days ago
It's not. It's way easier and cheaper to send a bank transfer or wire. Bank transfers and wires also offer more privacy.

Unless you're actually going to directly use the cryptocurrency (which is generally impossible), it needs to be converted to/from fiat, which requires a bank transfer.

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ozgrakkurt 750 days ago
For you maybe, but not for me. Wire is 15 usd on receiving end fixed + some percentage of the amount sent. An ethereum transfer is 2 usd or so into my exchange and exchange charges nothing for withdrawal. Wire transfer takes 3-4 days in best case and bank calls me for some bs after 10 days in the worst case and I have to talk to them to approve it.

So after 20 mins of clicking some buttons I get my fiat currency in my bank account. And it costs 2 usd + some negligible amount.

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behringer 753 days ago
You're not being very creative if you can't find someone to buy your crypto.
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